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Michael Fletcher writes about the national economy for the Post, where he has been a reporter since 1995. Previously, he was a White House correspondent and he also has covered national education policy, race relations and the District government. Prior to coming to The Post, he spent 13 years as a reporter at The Baltimore Sun. Fletcher is co-author of "Supreme Discomfort: The Divided Soul of Clarence Thomas," published by Doubleday in 2007. Born and raised in New York City, Fletcher is a graduate of Brooklyn Technical High School and Boston University.

Ariana Eunjung Cha writes about the economy for the Post and is the Web editor for its national economy and business section. She has served as the paper's bureau chief in Beijing, Shanghai and San Francisco and as a correspondent in Baghdad.

Brady Dennis writes about economic policy and financial regulation. Before coming to The Post in September 2008, he was a staff writer at the St. Petersburg Times in Florida. At the Post, he was a finalist for both the Pulitzer Prize and a Gerald Loeb Award for a three-part series he and a colleague wrote about the rise and fall of American International Group.

Zachary Goldfarb has covered the U.S. financial crisis for The Post for more than three years. Originally from Manhattan, he is a graduate of the Princeton University and now lives in Washington, D.C. He enjoys vegetarian cooking, is getting started as a cyclist and spends too much time obsessing over gadgets.

Jia Lynn Yang is a staff writer at The Washington Post who covers policy that affects corporate America. She's interested in taxes, regulation and all the ways that business and Washington try to influence and make sense of one another. Before joining The Post, Jia Lynn was a Washington correspondent for Fortune magazine.

Neil Irwin writes about the U.S. economy and the Federal Reserve. He has been at the Post since 2000 and has an MBA from Columbia Business School, where he was a Knight-Bagehot Fellow in Economics and Business Journalism. His interests include bond market data, cured pork products, and pinot noir.

Lori Montgomery writes about national economic policy emanating from the White House and Capitol Hill. A former foreign correspondent who traveled Europe pre-euro, she also covered domestic politics in such disparate locales as Dallas and Detroit. She has three kids, one dog and no time for your so-called "interests."

Ylan Q. Mui covers the consumer economy and has been a member of the Financial staff since 2005 and a staff writer since 2002. She is also an adjunct journalism instructor at the University of Maryland. Ylan graduated from Loyola University in New Orleans, where she was born and raised.

Howard Schneider covers international economics and trade for the Post. He has served in a variety of roles at the paper, three tours abroad in Israel, Egypt and Canada, and as economics editor. He is a native of Maryland's Eastern Shore, and proudly includes a chief oyster inspector among his ancestors.

Mike Shepard is the Night Editor for Economy and Business News. A graduate of Georgetown University, Mike has worked at the Post for 22 years in a variety of editing assignments. He spent 1997 teaching journalism in Brazil on a Fulbright scholarship and is a fluent speaker of Portuguese.

Political Economy explores how political forces in Washington and elsewhere in the world shape the economy and how corporate agendas influence political institutions and politicians. The blog offers new perspectives on the day's top economic and business stories with exclusive interviews with government officials and lawmakers, commentary from influential economists and analysis from Post reporters. Ariana Eunjung Cha is the blog's lead writer and Mike Shepard is the author of the daily economic agenda.

"Now that we're all used to pre-nups, it's time to start thinking about divorce insurance: Ever had that sinking feeling that the person your friend is marrying is perfectly awful? Of course not, because you love everyone. But should it happen, you now can give the perfect wedding present: divorce insurance."

Steve Pearlstein's Take

"It's hard to read this week's election results, and the public opinion polls generally, and not be concerned about the collapse of the political center.... [I disagree] that this is strictly a Republican phenomenon, in which the "tea party'' and other anti-government zealots are in the final stages of driving out experienced, thoughtful moderates from the Republican party. The dynamic on the Democratic side is as much about interest group politics as it is about political ideology, but you don't have to look hard to find it in the defeat locally of Washington Mayor Adrian Fenty and Montgomery Council member Duchy Trachtenberg, or nationally in President Obama's declining poll numbers."

Warren extends olive branch to bankers

U.S. Treasury Secretary Timothy Geithner listens to Elizabeth Warren, assistant to President Barack Obama and special adviser to Geithner on consumer protection issues, speak at a conference on mortgage disclosure last week.
(Photo Credit: Jay Mallin/Bloomberg)

By Brady DennisElizabeth Warren has wielded a rhetorical sledgehammer against the nation's biggest banks in the past, chastising them for using "tricks and traps" to reap massive profits by deceiving their own customers.

But Wednesday evening, in her first speech as an Obama administration official and the de facto leader of the new Bureau of Consumer Financial Protection, she extended an olive branch to the 400 bankers gathered at the swanky Mandarin Oriental Hotel.

"Some of you may have noticed that I have not kept my opinions to myself about where I think the financial industry has gone wrong. And I notice that some of you have not kept your opinions to yourself about me," the 61-year-old Harvard Law professor said according to prepared remarks for the annual meeting of the Financial Services Roundtable, which represents the nation's largest financial firms.

"But there is something you may want to know: I come to Washington as a genuine believer in markets and a genuine believer that the purpose of regulating the consumer credit market is to make that market work for buyers and sellers alike."

She quoted from a speech that businessman Joseph P. Kennedy gave after he was appointed as the inaugural director of the Securities and Exchange Commission in the 1930s: "We are not working on the theory that all the men and all the women connected with finance, either as workers or investors, are to be regarded as guilty of some undefined crime. On the contrary, we hold that business based on good will should be encouraged."

The not-so-subtle message: Behave, play nice, and we'll get along just fine.

In her speech and in an interview earlier in the day, Warren said she hopes to take a more "principles-based approach" to regulation, rather than simply saddling companies with more of what she calls "thou shalt not" rules -- which make for burdensome, costly compliance and which banks often start trying to skirt as soon as they are written.

"Regulators can make more pronouncements from on high, identifying suspicious practices in the various markets and banning them. Or regulators can layer on more disclosure requirements," Warren said in her remarks. "But neither restores customer trust."

Rather, she said, "Let's measure our success with simple questions" -- Can customers understand a product? Do they know the risks? Can they easily figure out what it really costs?

The speech contained an understated but unmistakable challenge to those in the room to change their ways. Glimpses of the feisty Warren remained, such as when she noted that "too many Americans see dealing with banks like handling snakes - do it long enough and you'll get bit."

But mostly, this was a kinder, gentler approach. The group's president, Steve Bartlett, had invited Warren to speak at the meeting before President Obama named her to the lead role in shaping the new consumer agency, before she had an official title, before her words had to be vetted by the powers-that-be in the administration.

"She's on point for an issue we care about -- protecting consumers," the group's chief lobbyist, Scott Talbott, said in explaining the reason for asking her to be the keynote speaker.

Since taking the job earlier this month, Warren has reached out to chief executives, trade associations, members of Congress and consumer groups. She seemed Wednesday to be aiming for harmony among the warring factions, at least for now.

"It is now, right here at the beginning, that we have a remarkable chance to put aside misconceptions and preconceptions -- whether they are yours or mine. We have a chance to build something better," she said. "I'm here tonight to ask if we can work together."

Hours earlier, in her spartan office on the second floor of the Treasury building, Warren seemed hopeful but uncertain about how what kind of reception she might receive from the sea of bankers.

"This is the invitation to another approach, and we'll see what they say," Warren said, adding jokingly that, "I am going into a room where there are forks and knives on the table."

You go Elizabeth,you have the whole country behind you. Don't take any BS from the crooks that stole everything that average joes have worked for. Do the job you have vowed to do and restore the middle class.

I'm a college professor, with real-world corporate experience. May I come and clean this mess up for you?

I know, next you'll accuse me of being a left-wing socialist who's incapable of undestanding capitalism (wrong). Or a tree-humper who loves birds and bunnies more than people who have a right to get rich (I'm a dog person).

The issue is not academia or corporate experience. It's ethics. Elizabeth Warren is as far as we are going to get from corrupt corporate influence as a regulator. We need such people to pr0perly regulate markets. In addition to protecting consumers, they also tend to protect corporations from their own potentially bad behavior.

How about graduating from Rutgers Law School in 1976 after being the editor of the law review and not being able to get a job. At the time she was pregnant with her second child, She started up her own practice, handling wills and real estate closings.

You were sneaked through the back door so you have no official power. The people did not have a say - only the naked emperor did. You are simply one in a long line of mistakes this disgustingly liberal administration continues to make. Don't bother decorating your office.

She lost me at Joseph P. Kennedy. Seriously, she is quoting one of the biggest thieves this country has ever been subjected to. He embodied the definition of corrupt; in bed with every gangster and politico with a strong-arm. lol. someone please stop this madness.

Elizabeth Warren has the experience and knowledge needed to perform an excellent job. I know there is a lot of rhetoric against her, but as a life long republican and business conservative I find it interesting the financial groups are whining that she is going to misconstrue their intentions and take advantage of them. Whining about regulation done right by the people being regulated is the oldest game in town. She is trying to simplify the credit card and real estate markets so when you apply for a loan you understand the terms. Everyone who will ever need credit should be on her side.

Everything about Warren, from the way she attained her new powers to the way she plans to use them, is antithetical to our nation's First Principles and the United States Constitution. Warren's appointment is just the beginning of her assault. Her rejection of rules-based governing is also a rejection of our nation's First Principles.

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